Pacira Announces Promotions of Scott Braunstein, MD, to Chief Operating Officer and Richard Scranton, MD, to Chief Scientific...
December 07 2017 - 7:30AM
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) today announced that
Scott Braunstein, MD, has been named Chief Operating Officer and
Richard Scranton, MD, has been named Chief Scientific Officer. In
this new role, Dr. Braunstein will oversee the company’s commercial
and medical affairs functions while continuing to manage strategy
and corporate development at Pacira. As Chief Scientific
Officer, Dr. Scranton will direct the company’s clinical research
while continuing to lead scientific communications, market access,
and health outcomes research and analytics for EXPAREL®
(bupivacaine liposome injectable suspension), the company’s
innovative, non-opioid option for managing postsurgical pain. Drs.
Braunstein and Scranton will continue to report to Chief Executive
Officer and Chairman, Dave Stack, who will maintain oversight of
commercial and corporate strategy.
“Scott and Rich have made significant contributions to Pacira
and we’re very pleased to announce these expanded roles for each of
them,” said Dave Stack, chairman and chief executive officer of
Pacira. “Scott is an outstanding and committed leader who has
played a critical role in defining and executing our growth
strategy for EXPAREL, including our broad commercial collaboration
with Johnson & Johnson. Scott’s integral involvement in all
aspects of this partnership makes him the ideal executive to lead
our commercial initiatives. Rich has an exceptional track record of
delivering results and I have every confidence he will ensure
operational excellence across all aspects of our clinical research
programs for EXPAREL.”
In addition to the clinical research programs, Dr. Scranton
oversees the company’s health outcomes and value assessment
programs, academic research collaborations, scientific
communications, and market access strategies. He has a Master’s
Degree in Public Health, Clinical Epidemiology/Clinical
Effectiveness from the Harvard School of Public Health and earned
his MD from the Quillen College of Medicine at East Tennessee State
University. He completed his residency in the U.S. Navy and was
honorably discharged as lieutenant commander, continuing as an
Assistant Professor at Harvard Medical School.
Dr. Braunstein currently leads the company’s strategy and
corporate development activities including spearheading the
company’s flagship strategic collaboration with Johnson &
Johnson for EXPAREL in the orthopedic surgical setting. He has over
20 years of experience both as a practicing physician and investor,
as well as expertise from numerous commercial, consulting, and
operational roles within biotechnology and pharmaceutical
companies. Dr. Braunstein earned his medical degree from the Albert
Einstein College of Medicine, completed his internal medical
residency at Cornell University-New York Hospital and conducted
additional research in immunology and wound healing from 1993 to
1994 at Rockefeller University. He also provided academic
instruction as Assistant Clinical Professor for Columbia University
and the Albert Einstein College of Medicine.
About Pacira
Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX) is a specialty
pharmaceutical company dedicated to advancing and improving
postsurgical outcomes for acute care practitioners and their
patients. The company’s flagship product, EXPAREL® (bupivacaine
liposome injectable suspension), is redefining pain management
after surgery as an opioid-free alternative indicated for
single-dose infiltration into the surgical site to produce
postsurgical analgesia. EXPAREL utilizes DepoFoam®, a unique and
proprietary product delivery technology that encapsulates drugs
without altering their molecular structure, and releases them over
a desired period of time. To learn more about Pacira, including the
corporate mission to reduce overreliance on opioids, visit
www.pacira.com.
Important Safety Information
EXPAREL is contraindicated in obstetrical paracervical block
anesthesia. In clinical trials, the most common adverse reactions
(incidence ≥10%) following EXPAREL administration were nausea,
constipation, and vomiting. EXPAREL is not recommended to be used
in the following patient population: patients <18 years old
and/or pregnant patients. Because amide-type local anesthetics,
such as bupivacaine, are metabolized by the liver, EXPAREL should
be used cautiously in patients with hepatic disease. Patients with
severe hepatic disease, because of their inability to metabolize
local anesthetics normally, are at a greater risk of developing
toxic plasma concentrations. EXPAREL is not recommended for the
following types or routes of administration: epidural, intrathecal,
regional nerve blocks, or intravascular or intra-articular use.
Non-bupivacaine-based local anesthetics, including lidocaine, may
cause an immediate release of bupivacaine from EXPAREL if
administered together locally. The administration of EXPAREL may
follow the administration of lidocaine after a delay of 20
minutes or more. Formulations of bupivacaine other than
EXPAREL should not be administered within 96 hours following
administration of EXPAREL. Central Nervous System (CNS) Reactions:
There have been reports of adverse neurologic reactions with the
use of local anesthetics. These include persistent anesthesia and
paresthesias. CNS reactions are characterized by excitation and/or
depression. Cardiovascular System Reactions: Toxic blood
concentrations depress cardiac conductivity and excitability which
may lead to dysrhythmias sometimes leading to death. Allergic
Reactions: Allergic-type reactions (eg, anaphylaxis and angioedema)
are rare and may occur as a result of hypersensitivity to the local
anesthetic or to other formulation ingredients. Chondrolysis: There
have been reports of chondrolysis (mostly in the shoulder joint)
following intra-articular infusion of local anesthetics, which is
an unapproved use.
Forward Looking Statements
Any statements in this press release about the company’s future
expectations, plans, outlook and prospects, and other statements
containing the words “believes,” “anticipates,” “plans,”
“estimates,” “expects,” “intends,” “may” and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including
risks relating to: the success of the company’s sales and
manufacturing efforts in support of the commercialization of
EXPAREL; the rate and degree of market acceptance of EXPAREL and
the company’s other products; the size and growth of the potential
markets for EXPAREL and the company’s ability to serve those
markets; the company’s plans to expand the use of EXPAREL to
additional indications and opportunities, and the timing and
success of any related clinical trials; the related timing and
success of United States Food and Drug Administration supplemental
New Drug Applications; the outcome of the U.S. Department of
Justice inquiry; the company’s plans to evaluate, develop and
pursue additional DepoFoam-based product candidates; clinical
trials in support of an existing or potential DepoFoam-based
product; the company’s commercialization and marketing
capabilities; the company’s and Patheon UK Limited’s ability to
successfully and timely construct dedicated EXPAREL manufacturing
suites; and other factors discussed in the “Risk Factors” of the
company’s most recent Annual Report on Form 10-K for the fiscal
year ended December 31, 2016 and in other filings that the company
periodically makes with the SEC. In addition, the forward-looking
statements included in this press release represent the company’s
views as of the date of this press release. Important factors could
cause actual results to differ materially from those indicated or
implied by forward-looking statements, and as such the company
anticipates that subsequent events and developments will cause its
views to change. However, while the company may elect to update
these forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the company’s views as of any date subsequent to the
date of this press release.
Company Contact:
Pacira Pharmaceuticals, Inc.
Susan Mesco
(973) 451-4030
susan.mesco@pacira.com
Media Contact:
Coyne Public Relations
Alyssa Schneider
(973) 588-2270
aschneider@coynepr.com
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